Citigroup Downgrades Timken to Neutral, Raises Price Target to $100
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Timothy Thein has downgraded Timken (NYSE:TKR) from Buy to Neutral, while raising the price target from $95 to $100.
July 17, 2023 | 2:17 pm
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NEUTRAL IMPACT
Timken's rating has been downgraded to Neutral from Buy by Citigroup, but the price target has been raised from $95 to $100.
The downgrade to Neutral suggests that Citigroup sees limited upside potential for Timken's stock in the near term. However, the raised price target indicates that they still see some potential for growth. This could lead to a neutral impact on the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100